Jim Buss, a prominent figure in the world of basketball and the Los Angeles Lakers, has a fascinating story that’s full of ups and downs. As the son of the late Lakers owner, Dr. Jerry Buss, Jim inherited not only a fortune but also a deep passion for the game. We’ll take a closer look at Jim Buss’s early life, his involvement in the Lakers organization, and his impressive net worth. Join us as we dive into the life of this influential figure in the world of sports.
Net Worth: $600 million
Date of Birth: Nov 9, 1959
Place of Birth: Los Angeles, California
Profession: Vice president
Jim Buss Early Life
James Hatten “Jim” Buss was born on November 9, 1959, in Los Angeles, California. Growing up, Jim was surrounded by the world of sports and entertainment, thanks to his father, Dr. Jerry Buss. Jerry was a self-made millionaire and philanthropist who purchased the Lakers, along with the Los Angeles Kings hockey team and the Forum sports arena, in 1979.
Jim’s childhood was a mix of privilege and a strong work ethic instilled by his father. He attended the University of Southern California, where he studied mathematics and statistics. Despite his family’s wealth, Jim was no stranger to hard work. He took a job at a local horse racing track while still in college, learning the ropes of the sports betting industry. This early experience would later play a crucial role in shaping his career.
After completing his education, Jim joined the family business, working alongside his father and siblings in various roles within the Lakers organization. Over the years, Jim climbed the ranks and eventually became the Executive Vice President of Basketball Operations. Under his leadership, the Lakers continued their winning ways, securing numerous championships and becoming one of the most successful franchises in the NBA.
Jim Buss Personal Life
Jim Buss has always maintained a relatively private personal life, keeping his focus on his career and the Lakers organization. He has been married once and has two children, but details about his relationships and family life are mostly kept away from the public eye. Despite his high-profile position and immense wealth, Jim prefers to stay out of the limelight, rarely attending high-profile events or granting interviews. Instead, he dedicates his time to his family, his business, and his beloved Lakers.
In his free time, Jim is an avid poker player and has participated in several high-stakes games. His love for poker is likely influenced by his father, who was known to be a fan of the game. Jim is also a passionate animal lover and has owned and bred several thoroughbred racehorses, a testament to his early career working at the horse racing track.
Jim Buss Career
Jim Buss began his career in the Lakers organization in the early 1990s, working under his father’s guidance. He started in various roles, including scouting and player development. Jim played a crucial role in building the team’s roster, which included the signing of key players such as Kobe Bryant and Shaquille O’Neal.
As he gained experience and proved his capabilities, Jim eventually took on a more significant role within the organization. In 2005, he was named the team’s Vice President of Player Personnel, a position he held until 2013. During this time, the Lakers enjoyed a period of immense success, winning NBA championships in 2009 and 2010.
In 2013, following the death of his father, Jim was appointed Executive Vice President of Basketball Operations, sharing the responsibility with his sister, Jeanie Buss. This marked a new era for the Lakers, as the siblings sought to continue their father’s legacy of success. Initially, the team faced several challenges, including a decline in performance and public criticism of their leadership.
However, Jim and Jeanie persevered, making crucial decisions such as hiring head coach Luke Walton and rebuilding the team’s roster. Their efforts eventually paid off when the Lakers secured the 2020 NBA championship, led by superstars LeBron James and Anthony Davis.
Jim Buss Net Worth
Jim Buss’s net worth is a testament to his family’s success and his own contributions to the Lakers organization. As of 2023, his estimated net worth was around $600 million. A significant portion of this wealth comes from his stake in the Lakers franchise, which is valued at over $5 billion.
In addition to the team’s financial success, Jim has also been involved in various other business ventures. His early experience in the world of horse racing led him to establish a successful horse breeding and racing business. Furthermore, he has invested in numerous real estate projects, including the development of luxury residential properties in the Los Angeles area.
Despite his immense wealth, Jim remains down-to-earth and deeply committed to the Lakers organization. He has faced his fair share of criticism, especially during the team’s less successful seasons. However, he has always shown a willingness to learn from his mistakes and to invest in the team’s future.
Jim’s passion for basketball is evident in his support for the Lakers’ players and staff. He’s been known to be hands-on when it comes to scouting and developing talent, often attending college games and workouts in search of the next big star. His dedication to the organization has been a driving force behind the Lakers’ continued success.